On 1 July 2018 Charter Ltd issues through private placement $10 million in 5 year debentures that pay coupon interest on semi-annual basis at a coupon rate of 10 percent per annum. At the time of issuing the securities, the market requires a rate of return of 14 percent per annum. Interest expense is determined using the effective interest method. Required Determine the issue price (show all workings). (2 Mark) Provide the journal entries (show all workings) at: 1 July 2018. (1 mark) 30 June 2019. (1 mark) 30 June 2020. (1 mark)